1047 Games revealed today that it’s received $100 million in funding for Splitgate and has a $1.5 billion valuation after the game’s recent success.

This announcement came just before a livestream that Splitgate announced late last night, which promises to give fans a look at the direction 1047 Games, and by extension, Splitgate, is going in.

In a press release, 1047 Games also noted a massive $1.5 billion valuation with Lightspeed Venture Partners as its lead investor, among many other investors.

The game has been a massive success since the release of its early access beta. Splitgate has enjoyed more than 13 million downloads across all of its platforms in less than two months. The small team at 1047 Games has turned what used to be a college final into what could be the next big esports title.

The game is still in an indefinite beta, which 1047 decided on since the game had so much unanticipated success after its early-access release. It was set to release in July on PC, Xbox, and PlayStation but was delayed after the game’s increase in popularity.

With this investment, 1047 Games plans to build out “the complete Splitgate experience,” according to the CEO of 1047 Games, Ian Proulx.

“We are far from finished building out what we feel is the complete Splitgate experience for our loyal and dedicated fans,” Proulx said. “The funding secured from our partners, combined with the belief and support of our vision, enables us to focus on both our short-term growth needs, and more importantly, our long-term vision for 1047 Games as a premier driver of completely fresh gaming experiences for fans.”

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